Risk to Reward is only 1:1.03 for first target.
Please see chart above for Stops (stop 10 pips below X leg) and Targets (Target 2 is a few pips below 61.8% Fibonacci Retracement). Positives: Trade is in direction of trend RSI Divergence Any feedback is welcomed!
EURUSD H1 (CYPHER PATTERN) SHORT
A bullish AB=CD pattern has formed in EURCAD H1 chart, leaving us an opportunity for a long position with a 2:1 risk-to-reward ratio.Going to entry this trade as soon as price shows an upward momentum.
I share my view of this short opportunity: USDJPY On H4 3. RSI OS on arrowed candle -> leading to regular bearish divergence (possible signal for reversal) 4. 61.8 from bigger swing (marked as 1) 5. structure at points 2, 3, 4 On H1 6. Last 3 candles "respected" 120.30 7. since number 6) small SL above highs of las 3 candles Maybe in Future: 1. Potential bull...
Here we got a Bat to look out for tonight, its against trend so we only go for target 1 to protect capital. RSI is on its way to over bought condition. Today we got a hit on the AUDCAD Bat, but got a target 2 winner in a Bat on GER30 index. Currently we are in a short position on a Cypher on USDCAD. And we just entered long on a Cypher on EURUSD so lets see what...
On GBPUSD we have 3 Pattern set up, Bat, Cypher, Cypher. My prediction: - Fill of the Bat-Patter (red) aiming for 38.2 Fib Target - From there on a possible down move to fill the blue Gartley-Patter, aiming for TP1 and TP2 (blue lines) -After targeting the blue Gartley, another down move to the purple Gartley (H4) with targets around the actual range.
AUDJPY H1 - Bullish Bat Entry: 89.684 Stop: 89.055 Target 1: 90.505 Target 2: 91.007